21.02.201805:20:00UTC+00UK Budget Logs Surplus In January

The UK budget balance showed surplus in January, the Office for National Statistics showed Wednesday.

Public sector net borrowing, excluding public sector banks, was in GBP 10 billion surplus in January. This was the second highest January surplus on record. Economists had forecast a surplus of GBP 9.6 billion.

During the current financial year-to-date, PSNB excluding public sector banks, decreased GBP 7.2 billion to GBP 37.7 billion, this was the lowest year-to-date net borrowing since the financial year-to-date ending January 2008.

Public sector net debt, excluding public sector banks, was GBP 1,736.8 billion at the end of January, which was equivalent to 84.1 percent of gross domestic product.